Coinbase announced that its full-year trading volume for fiscal year 2025 reached a record $5.2 trillion, a 156% increase year-over-year, with 12 products generating annualized revenue of over $100 million each. The acquisition of Deribit solidified its leading position in the crypto derivatives sector and drove a 37% increase in institutional trading revenue. Goldman Sachs maintained a "Buy" rating on Coinbase with a target price of $235, citing the company's diversified revenue streams from stablecoins like USDC and progress in regulatory matters.